01 Sep 202015:08
Vera Protocol AMA Recap
Cryptodiffer TeamHello, everyone!😁
We are glad to meet here:
Denis Lam, CEO of Vera Protocol
Denis Lam👋 Hello
Cryptodiffer TeamOur team has prepared 3 questions for you to start with:
Let`s start with the introduction !
Q1: Can you introduce yourself to our community?
Denis LamThank You!
I am software developer 17 years now, across multiple industries. focused on FinTech 12 yeas, and blockchain 6 years. Excited about the NFT DeFi space.
Cryptodiffer TeamQ2: Can you introduce Vera Protocol to us?
Denis LamVera is DeFi liquidity engine for real world assets represented by NFT. Both digital and physical. Veral enables issuing NFT, linking assets to NFT, and DeFi of these assets including Lending, Borrowing, Exchange, and liquidity pools.
Cryptodiffer TeamQ3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans
Denis LamMVP development is already underway. in Q2 we will release the POC demo. Q3, continue the protocol development and release more documentation for 3rd party and open source developers to build on top of our protocol. Q1 2022 we will start integration with other Defi protocols, and design more cross chain integration.
Cryptodiffer CommunityWhat was the motivation behind the idea to start/create the Vera Protocol? And what gap did you deem necessary to fill with the creation of the Vera Protocol project?
Denis Lamto bring liquidity to NFT, in practical way and cross chain. NFTs today are illiquid, and DeFi functionality on them practically don't exists.
Cryptodiffer Community🦋What markets is Vera Protocol targeting? What is your main focus at the moment?
Denis LamWe are building infrastructure that will serve large variaties of markets. Starting from digital art, IP, to real estate. We already talking with multiple partners across multiple network who are interested in using our tech.
Cryptodiffer CommunityWhat are the ways for your project to generate revenue in the long run? What is the progress of business development and what are some of your commercial partnerships?
Denis LamWith every DeFi operation like Lending Borrowing and exchange there are fees associated with it. with large volume these fees adds up. with our B2B and B2C models we will have multiple revenue streams.
for BD, we are targiting Video Games, to allow users inside the game to exchange and lease their assets. also online markets for digital pictures.
Cryptodiffer CommunityWhat incentives have been put in place for users to get involved with the Vera Protocol?
Denis LamFor end users, Vera will enable them better use the NFT they own, or borrow assets they need.
Vera token owner will be rewarded by a rev share of the total fee collected from the network.